Telecel Zimbabwe Sold, but….

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We Can exclusively reveal that Vimplecon has sold Telecel Zimbabwe for a whooping xx million dollars in a deal which all involved parties have agreed to keep their lips tied till the last signature has been penned.

In legal documents that we gleaned and told in confidence, we can rest assure you that in not more than 14 days it will become public knowledge that Vimplecom has successfully sold their 60% stake to a buyer who would rather remain anonymous till the time is right.

The next move would then to buy the last 40% which is owned by a consortium of local indigenous businessman who have been involved in wrangles and we are told a good offer will be delivered to them as the new owner looks at taking over the profitable business.

Telecel Zimbabwe is reported to making over $5 million per month and hence it a good investment for the buyer who seems to be more powerful to put to rest all the squabbling that has been ongoing at Telecel Zimbabwe.

However, the buyer suggested that the deal was supposed to have been completed last month but some locals have been scuttling the deal amid a myriad of conflict of interest and jostling for kick backs frustrating the whole process.

We are now closely watching the deal as it goes on and we surely break the news before the signature dries up, as proof of funds has already been displayed by the buyer now awaiting for few legal formalities to be finalised .

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The writer is the editor for TechnoMag. my personal twitter @toneo1st. mail editor@technomag(dot)co(dot)zw twitter https://twitter.com/TechnoMagZw and facebook page http://www.facebook.com/technomagzw

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